To make money from gambling is hard and requires patience, some skill and a heavy dose of luck. We will look at some of the games that can turn your pastime into an income, to be in with a chance of making money you need to turn the house odds in your favor.
You will need to crunch a lot of data, look at form guides or mathematical probabilities. Most people just bet with their gut and strike it lucky now and again. They use their emotions, to back the horse that has the same name as their wife or bet on their favorite football team.
The ones that win consistently and actually make money, treat it more scientifically to place bets on the most likely outcomes or the outcomes that have value for the risk.
The Sports Fan Making money on the Side.
Obviously, betting can give you big winnings. A 100/1 bet can get you 1k from just a $10 dollar stake. Games with some of the highest odds include sports betting and these are some of the most fun bets too. By betting on outsiders to give a surprise result you can win big. The boxer that is facing an unbeaten champion may be as long as 15-1 odds and especially in the heavier weights, every boxer has a boxer’s chance of landing a knockout punch.
Leicester City, an unfancied team that more people were predicting relegation for won the Premiership from 5000-1 odds but strange things happen in sport. A 100-dollar bet would have turned into a jackpot of $500,000. Betting on favorites can also be lucrative because they are favorites for a reason, so consistent smaller wins on favorites can over time give you good income.
Trading markets can be considered gambling and can be very lucrative especially when in bull markets as we are now when all asset classes go up. If you research companies and invest only in strong sustainable brands and products you have a good chance of earning on stock prices going up.
If the company is big enough and profitable enough, they will pay out regular dividends too which in themselves are a good income on a large enough shareholding.
What is key with trading as well is that you can limit your losses with stop losses, where you put in an order to sell the stock if it falls below a certain price therefore limiting any downside. Not many bets allow you to do that so at least you know what your maximum loss is if your punt goes against you.
Finally, there is poker, playing tournaments rather than cash games, because again your losses are capped, but the skill that you build up can give you an edge. And its not the house you have to beat but other mortal, flawed beings. As long as you are better than the other players on the table you can win the top prizes.
There are professional players all over the world, with thousands that have become millionaires from the “job”. For every pro player there are thousands of novices or chumps that don’t even know the basic probabilities of hands so they will bet on pots that have no value or give away signs they have good or bad hands. By studying poker and building up experience you can give yourself more chance of winning in games.
From a fun pastime to a career, there are ways that gambling can give you an income but like with any hobby or income stream, study it, learn from experts and practice it to get better at it.
Making income from video slots is not something you can really do professionally as a player. However, you can become an affiliate and showcase xo slot titles to persuade people to join certain online casinos.
You could also go as far as opening an online casino which is easy enough if you have enough cash backing you up. For the most part, the software providers that produce that games pay the players while you perform all the marketing to attract players to website to play these slot games. Part of the deal is that the slot developer shares a portion of the profits with you.